IndexIQ Advisors LLC raised its stake in shares of Matrix Service Company (NASDAQ:MTRX) by 83.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,530 shares of the oil and gas company’s stock after buying an additional 23,835 shares during the period. IndexIQ Advisors LLC owned 0.20% of Matrix Service worth $798,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MTRX. Prescott Group Capital Management L.L.C. bought a new position in Matrix Service during the second quarter valued at about $3,875,000. Rutabaga Capital Management LLC MA bought a new position in Matrix Service during the second quarter valued at about $3,025,000. Dimensional Fund Advisors LP raised its holdings in Matrix Service by 11.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,052,540 shares of the oil and gas company’s stock valued at $33,867,000 after buying an additional 206,944 shares in the last quarter. Northern Trust Corp raised its holdings in Matrix Service by 35.8% during the second quarter. Northern Trust Corp now owns 699,229 shares of the oil and gas company’s stock valued at $6,537,000 after buying an additional 184,503 shares in the last quarter. Finally, Boston Partners raised its holdings in Matrix Service by 32.0% during the second quarter. Boston Partners now owns 740,510 shares of the oil and gas company’s stock valued at $6,923,000 after buying an additional 179,480 shares in the last quarter. Institutional investors own 83.44% of the company’s stock.
Matrix Service Company (NASDAQ MTRX) opened at $15.50 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.72 and a debt-to-equity ratio of 0.13. Matrix Service Company has a 12 month low of $7.80 and a 12 month high of $23.45.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.08. The business had revenue of $269.91 million for the quarter, compared to analyst estimates of $290.56 million. Matrix Service had a negative return on equity of 1.75% and a negative net margin of 0.51%. The firm’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. sell-side analysts anticipate that Matrix Service Company will post 0.6 EPS for the current year.
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MTRX has been the topic of several recent research reports. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a report on Thursday, September 14th. KeyCorp restated a “hold” rating on shares of Matrix Service in a report on Monday, August 28th. ValuEngine lowered Matrix Service from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. TheStreet upgraded Matrix Service from a “d+” rating to a “c-” rating in a report on Monday, October 9th. Finally, BidaskClub lowered Matrix Service from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of “Hold”.
Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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